Fortis Healthcare to mop up $43.5 million through various routes

Fortis Healthcare is planning to mop up around $43.5 million through issue of various instruments, including Foreign Currency Convertible Bonds (FCCBs) in Singapore. Recently, the issue committee duly constituted by the board of directors of the company has approved the issue of FCCBs up to $30 million, to be listed on Singapore Exchange Securities Trading, and has decided to launch the issue.

The conversion price in respect of the issue of the FCCBs, is Rs 99.09 per equity share and the relevant date for this purpose is July 23, 2013. Besides, the company’s board has approved to raise $13.5 million by issue of 88.55 lakh shares to Standard Chartered Pvt Equity (Mauritius) III Ltd on a preferential basis.

Fortis Healthcare is an integrated healthcare delivery service provider in Asia. The healthcare verticals of the company span primary care, diagnostics, day care specialty and hospitals, with a healthcare network spanning 9 countries.